The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1887-05-07
n. Dan q Co.'S Review.

Co.'s weekly trade review says: The
feature OF business reports for the pact
week Ia the enormous increase re-
ported at many Western points. In
this section the interstate act, though
checking trade at eome Important
points, seems to have produced feel
ing Of extraordir ary confidence In q
much larger number OF towns. Other
causes, particularly the spe ,ulation In
real estate and the activity in build.
ing, contribute to swell transactions
surprisingly. At Cincinnati clesrings
show an increase OF 80 per cent over
last year, at st. Louis l6 per cent,
and at Chicago IA per cent, but st.
Paul and San Francisco report gains Of
43 per cent, Memphis, 81. Joseph and
Peoria exceeding so per cent, Indian
apolis and Denver nearly 80 per cent,
Omaha 102 per cent, and Wichita,
Kas., ITO per cent. Apart from land
trading and new building other bust.
ness has been remarkably active
throughout that regien. Denver notes
an increase In the yield of precious
metals, st. Paul large output of -four,
Cleveland, Cincinnati and Milwaukee
distinct improvement In trade and
collections, and the supply Of
money seems everywhere ample.
At Memphis the activity noted
Is mainly In real estate and
building. EAl.rl cities do not find q
corresponding improvement in trade.
At Philadelphiaexchanges show little
increase, Large amounts OF capital
are going thence TO the Western m )rt-
gage loans. The boot and shoe bust
ness still improves, but WOODEN manu-
iacture Is depressed by slow demand
for goods, and several New England
mills have stopped or reduced time.
The high prices being paid for new
wool at the West, 1t Is claimed, will
make profitable manufacture impossl-
BILE for many. The dry goods market
is quiet, though prices are well main
tanned. In the grocery trade there Ia
much complaint Of dullness, aud sugar
has yielded shade, spices and tea be-
ing dull and molssses steady. In
spite OF active speculation in coffee,
the demand for consumption is lin
tied. Railroad car 9ings give proof
that, while traffic Is large, the increase
falls far short of reported gains In the
volume OF business AT the West. Re-
ports of railroads for April, so far,
show an average increase OF IL per
cent, in gross earnings over last year
Wheat exporting is checked by COR
ner in near options, which hes at
vanced the price 81 cents. Cotton fut
urea for June are also cornered and
l.-o oluu~oed fo ouarlar Ranaau or
, iron Is 80 to 10 cents lower al
} Pittsburg; sales oil bar at cents are
} not unusual at Philadelphia, and there
+ are reports OF largo sales OF pig at
concession, while rail mills are oper
!. for orders at S3S. Already 987 mileI
: of railroad have been completed
h against 852 to date last year, and lev
K securities aye offered In great variety
I ard large amount, but the uncertain
Q prospect az to rates and respecting thu
decisions Of the Interstate UommeTct
I Commission affects Investments II
: stocks, though prices have improved
n a lite. The enormous supply O
t money goes far to explain the situa
n ton. Not only hasthe Treasury added
n about 81, 1921, 900 to the circulation IL
8 April, but the abundance and cheap
Q Q 70 OF mouey In London are clearly
! felt here. Undoubtedly large amounu
OF foreign capital are seeking employ
4 ment here, In industries or In real es
Il tate loans, because OF the inadequat,
k demand abroad. While this state o
n things continues, and crop prospect
: grow more favorable, the season o
!. speculation and expansion in trad
9 ard industry is not likely to meet
Q reaction.
The business failures during tn
l. last seven days number, for tn
y United States, 1853 for Canada, twenty
II nine; total, 1872; against l9l last week
Q and 1872 for the corresponding week
laat WAR